Number of homes bought with cash increasing


According to CNN.Money.com cash buys are on the rise. The number of homes bought with cash jumped to 32% in January compared to 26% a year earlier (National Association of Realtors).

In Southern California, about 30% of the sales in January were cash, according to DataQuick Information Systems.

Sellers also are more willing to accept cash offers because there is a reduced chance of the deal falling through. It looks as if cash is king when it comes to home buying as well.

Luxury Home on Skytop Road

See full article:

http://money.cnn.com/2011/03/10/real_estate/homebuyers_paying_cash/index.htm

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